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Banking in Hong Kong

In a recent poll, 38 per cent of 1,100 senior executives from banks and financial institutions based in seven economies, including Britain, the United States, Canada and Hong Kong, said they would add to their permanent headcount in Hong Kong this year.

Some Hongkongers hoping to buy the government's third batch of iBonds with a loan from a stockbroker rather than a bank may be out of luck, as banks have been cutting off credit to brokers in a battle for new customers.

Adrian Li Man-kiu, the bank's deputy chief executive, unveiled a plan yesterday to equip its 88 retail branches with brand displays sporting a new look based on a band of five coloured rays of light over the next two months. It will be the lender's first revamp in 10 years.

Several people have asked why this column has spent so much time over the last couple of weeks looking at the Cypriot banking crisis. At just 0.2 per cent of the euro zone's gross domestic product, they argue that Cyprus is unimportant to Europe and irrelevant to Hong Kong. Who cares if a few dodgy Russian oligarchs take a haircut on their offshore deposits?